RIVE acquires four heli-portfolio from Milestone

RIVE Private Investment has acquired a four-helicopter portfolio from Milestone Aviation. The deal includes three Leonardo AW139s and one Leonardo AW169. Three of the fleet are supporting the offshore wind industry in the North Sea operating from the UK and Germany.

All four helicopters were acquired with their existing lease contracts attached, after a transaction signed on November 6th, 2025. The contracts include HeliService and Uni Fly, both said to be pioneers in hoist-equipped helicopter services for offshore wind.

RIVE said the helicopters are operated by “first-rate European and US specialised operators” delivering services to major energy players. Three helicopters operate along the British east coast and off Germany, an area that concentrates the largest number of offshore wind projects in Europe.

“This acquisition illustrates RIVE’s strategy of creating lasting business relationships with major global lessors,” it said. “As a financial investor, RIVE supports portfolio management for players like Milestone without competing with them operationally, unlike other buyers in the sector.” The “win-win relationship” paves the way for future collaborations enabling RIVE to continue developing its portfolio of critical assets, according to RIVE.

To finance this acquisition, RIVE structured the senior financing with South African bank Investec, with which the lender has partnered on a previous transaction.

Acquiring the portfolio fits with RIVE’s long-term strategy of financing and supporting missions critical to the energy transition, according to Camille Brunel, partner, Transportation Assets. “Offshore wind in the North Sea is a growth sector where we are strengthening our presence: we are already active there with other helicopters and four service vessels,” he said. “The AW139 and AW169 are among the most in-demand assets in the market for these critical missions.”

Mark England, head of Leasing Operations at Milestone, said the lessor was pleased to complete this transaction with RIVE Private Investment, which is a trusted partner with a clear, long-term commitment to the critical assets space. “These helicopters will continue to support essential energy operations,” he said. “This transaction reflects our ongoing focus on active portfolio management while strengthening relationships with experienced financial investors.

Serving as legal counsel on the buy side was Odi-sé Avocats and on the sell side was Smith Gambrell Russel. On the financing side (legal counsel).
Financing side legal counsel was provided by Watson Farley Williams.

Meanwhile, earlier this week the UK government awarded contracts to build significant new offshore wind projects around England, Scotland and Wales. The plans include constructing one of the world’s largest offshore wind farms in the outer Firth of Forth off Scotland’s eastern Berwickshire coast.

The new 4.1 gigawatt, including up to 307 turbines, is expected to create enough electricity to power up to 6m homes.